- Seven Australian companies made H2 Ventures and KPMG's annual Fintech 100 list this year, including three established players and four emerging companies.
- Cross-border payment business Airwallex came in at #32, with challenger bank Judo Bank at #33 and Afterpay Touch at #47.
- New Australian challengers in the space also got shouts out; with Athena Home Loans, daisee, Sempo, and Slyp all making the Top 50 Emerging Firms list.
'Fintech' is probably one of the buzzier terms flying around the business world, and you'll be pleased to know Australia punches above its weight in the category.
The annual Fintech 100 list, compiled by investment bank KPMG and venture capital firm H2 investments, has a solid Aussie presence this year. Seven Australian companies made the list – which is divided into established and emerging firms – including a handful you might not be across yet.
On the already established side of things, Airwallex was the top-performing Australian company at #32. The forex and international payments firm offers secure payments at fixed exchange rates, reducing currency volatility for businesses working across borders. Airwallex moved up from #49 on last year's list.
No Australian brand managed to squeeze into the top ten. Coming in at number one was Chinese company Ant Financial, the world's largest third-party payments platform. Companies from the Asia-Pacific region represented six of the top ten companies on the Fintech 100.
Hot on its heels is 'challenger bank' Judo at #33. Judo Bank tackles the big four by tailoring its services specifically towards getting small-to-medium enterprises access to capital. In August, Judo finalised its first round of equity raising at $140 million.
At #47 is Afterpay Touch, the buy-now-pay-later company which increasingly dominates the local online retail space and is making plays into bigger markets like the United States. Afterpay claims it processes more than 10% of Australia's physical online retailing. But it could face challenges in future, with traditional players like the major credit card companies eyeing off the lucrative space.
In addition to the above, four Australian companies made it into the Top 50 Emerging Firms list. Mortgage challenger Athena Home Loans, AI software developer daisee, digital receipt startup Slyp, and accessible e-wallet provider Sempo all made the cut.
Ian Pollari, KPMG's Australian fintech boss, said the list shows Australia continues to do well in the space.
"Australia’s fintech ecosystem continues to perform well – with established players like Airwallex and AfterPay expanding globally and SME challenger, Judo raising substantial capital," Pollari said in a statement issued to Business Insider Australia.
"We are also seeing a continued pipeline of new fintech innovators being launched in Australia – with all four of our local emerging list founded in 2017.”
“Globally, we have seen a rise in companies from across the Asia Pacific (including China) which represent the top 6, and 7 of the top 10 fintech companies in 2019 with China again securing the most top ten positions. In 2019 we have also seen the emergence of India as a fintech force taking out 2 top 10 positions and with 8 companies on this year’s list in total,” he added.
In a statement, KPMG pointed to several factors benefiting Australian companies in the fintech space, including our proximity to Southeast Asia, a healthy flow of capital, and Australia's recent moves towards opening up the banking sector through legislation.
You can check out the full Fintech 100 list over here, if you're so inclined.